Response to the IOSCO consultation on voluntary carbon markets

Response to the IOSCO consultation on voluntary carbon markets Rob Macquarie and Valentin Jahn March 2023 The Grantham Research Institute on Climate Change and the Environment was established in 2008 at the London School of Economics and Political Science. [...] The discussion report can be found here: This report consists of a submission to this consultation written by Rob Macquarie and Valentin Jahn on behalf of the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science. [...] Authors’ note The evidence in this submission is drawn from research for the Independent High-Level Expert Group on Climate Finance, the Climate Change Laws of the World database and wider programme on litigation and governance, and the Transition Pathway Initiative (TPI) Global Climate Transition Centre, which is hosted by the Grantham Research Institute. [...] Guidance and principles are expected to be released in 2023 by private initiatives (chiefly the Integrity Council for the Voluntary Carbon Market, the Voluntary Carbon Markets Integrity Initiative and the Science Based Targets Initiative), which are likely to increase transparency, harmonise data templates and ensure safeguards are in place. [...] Therefore, regulation of the carbon credit market will need to adapt to changes in standards that arise in response to new evidence on the impact of credits (either direct impacts of projects and programmes or the impact of their use on buyers’ decarbonisation strategies).